Last checked at 23 Feb 2016 07:00
23 February 2016
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Director's Dealing
Avacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and research reagents, announces that, on 22 February 2016, Michael Albin, a Non-Executive Director of the Company, entered into an irrevocable binding commitment to invest a proportion of his annual Non-Executive Director fee in new Avacta ordinary shares.
Mr Albin will invest a total amount of £12,500 per annum in new Avacta shares. He will purchase the shares on a quarterly basis, purchasing £3,125 of new shares on each of 31 March, 30 June, 30 September and 31 December. The purchase price of the shares will be the average mid-market closing share price for the five trading days immediately prior to each quarter-end. The terms pursuant to which Mr Albin will purchase his shares are fixed and he has irrevocably committed to such terms.
The Company will apply for the new Avacta shares purchased by Mr Albin to be admitted to trading on AIM each quarter and will provide an appropriate notification to the market ahead of each quarterly admission.
Enquiries:
Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer
| Tel: +44 (0) 844 414 0452 www.avacta.com |
Numis Securities Limited Michael Meade / Freddie Barnfield - Nominated Adviser James Black - Corporate Broking
WG Partners David Wilson Nigel Barnes Claes Spang
| Tel: +44 (0) 207 260 1000 www.numiscorp.com
Tel: +44 (0) 203 705 9318 Tel: +44 (0) 203 705 9217 www.wgpartners.co.uk
|
Media Enquiries FTI Consulting Simon Conway / Natalie Garland-Collins | Tel: +44 (0) 203 727 1000 avacta@fticonsulting.com |
Notes to Editors
Avacta Group plc (www.avacta.com)
Avacta's principal focus is on its proprietary Affimer® technology which is a novel engineered alternative to antibodies that has wide application in Life Sciences for diagnostics, therapeutics and general research and development.
Antibodies dominate markets worth in excess of $50bn despite their shortcomings. Affimer technology has been designed to address many of these negative performance issues, principally; the time taken to generate new antibodies, the reliance on an animal's immune response, poor specificity in many cases, and batch to batch variability. Affimer technology is based on a small protein that can be quickly generated to bind with high specificity and affinity to a wide range of protein targets.
Avacta has a pre-clinical biotech development programme with an in-house focus on oncology and bleeding disorders as well as several partnered development programmes. Avacta is commercialising Affimer reagents through custom Affimer services to provide bespoke solutions to customers and via a growing on-line catalogue of Affimer reagents.